Debt

  • CAG report on farm loan waiver to be discussed in LS today March 7, 2013

    New Delhi: The Lok Sabha is likely to discuss the CAG report on the farm loan waiver scheme on Thursday. On Wednesday, the House was adjourned after repeated ruckus by the Opposition. Prime Minister Manmohan Singh had promised stringent action against defaulters. The Prime Minister's statement in the Rajya Sabha...
  • BJP demands CBI probe in farmers loan waiver 'scam' March 6, 2013

    New Delhi: The BJP on Tuesday alleged that nearly 34 lakh farmers had been denied their right under the loan waiver scheme of the UPA government and demanded a CBI inquiry to unearth the real extent of the "massive scam". Bharatiya Janata Party (BJP) spokesperson Prakash Javadekar said this revelation further...
  • Farm loan waiver under scanner: Are big ticket government schemes prone to corruption? March 5, 2013

    The CAG report which was tabled in Parliament earlier on Tuesday criticised the scheme's implementation, citing lapses in 22 per cent of the cases. ...
  • Farm debt waiver scheme: Finance Ministry orders probe after CAG report reveals lapses March 5, 2013

    The CAG report which was tabled in Parliament earlier on Tuesday criticised the scheme's implementation, citing lapses in 22 per cent of the cases. ...
  • BJP calls for 'in-depth' inquiry in farm debt waiver scheme after CAG report March 5, 2013

    The main Opposition BJP called for an inquiry into the farm debt waiver scheme after CAG report highlighting government's lapses and irregularities in implementing the scheme. "There are things rotting somewhere and that is why we want an in-depth inquiry because without that you won't be able to prove the...
  • CAG report on farm debt waiver scheme reveals lapses March 5, 2013

    New Delhi: The Comptroller and Auditor General's (CAG) final report on the farm debt waiver scheme highlighted loopholes and pointed out irregularities in implementation of the Rs 52,000 crore scheme. The report was tabled in Parliament on Tuesday. The CAG report said over Rs 20 crore were doled to ineligible farmers...
  • Farm debt waiver scheme report to be tabled in Parl today March 5, 2013

    New Delhi: The Comptroller and Auditor General's (CAG) final report on the farm debt waiver scheme is likely to be tabled in Parliament on Tuesday. Sources said the report is fairly critical of its implementation, alleging that beneficiaries of the scheme were selected randomly and did not reach the...
  • Vijay Mallya likely to meet Chidambaram on Tuesday March 5, 2013

    New Delhi: Kingfisher Airlines' promoter Vijay Mallya is likely to meet Finance Minister P Chidambaram on Tuesday to discuss ways to deal with the financial challenges faced by the airline. With more than Rs 15,000 crore in the form of debt, accumulated losses and various dues, the airline has remained...
  • Reader Digest's publisher files for bankruptcy again February 19, 2013

    New York: The publisher of iconic magazine Reader's Digest has filed for bankruptcy to cut a $465 million debt. The magazine has been in circulation for 9 decades now and is read by over 25 million people across the world, but has lately felt the pressure of reader's switching from...
  • No formal communication from banks yet: Kingfisher February 16, 2013

    New Delhi: With banks planning to monetise Kingfisher Airlines' securities to recover a debt of about Rs 7,000 crore, the grounded carrier today said it was continuing discussions with its lenders and had not received any formal communication from them on the matter. "We have received no formal communication from...
  • 17 nations hit by Euro crisis, scenario worse than forecast February 15, 2013

    The economy of the 17 nations in the Euro shrank by 0.6 per cent in the fourth quarter, which was worse than forecast. ...
  • SBI says Kingfisher Airlines lenders to meet in 15 days February 10, 2013

    Mumbai: With the revival plan of grounded Kingfisher Airlines getting nowhere, its lead lender State Bank on Saturday said the creditors will meet in a fortnight to decide the future course of action to secure their money even as the airline chairman Vijay Mallya met employees to reassure them of...
  • Obama's second term: Tough challenges lie ahead January 22, 2013

    The President spoke directly to the American people on Monday after the swearing-in ceremony, giving a glimpse into the next four years. ...
  • US kills idea of $1 trillion platinum coins January 14, 2013

    Washington: So much for the $1 trillion platinum coin idea. The US Treasury Department said on Saturday it will not produce platinum coins as a way of generating $1 trillion in revenue and avoiding a battle in Congress over raising the US debt ceiling. The idea of creating $1 trillion by...
  • Banks to decide future course of action on Kingfisher soon January 8, 2013

    New Delhi: Kingfisher lenders will soon decide on future course of action with regard to the grounded airline as they do not want the company to close down, State Bank of India (SBI) said on Monday. "The representatives met in Bangalore ... the plan for action the consortium is deciding....
  • Watch: Find out what US fiscal deal has missed out on January 3, 2013

    With a deal reached in Washington, leaders have avoided the fiscal cliff. But the agreement doesn't address all of America's problems. CNN's Christine Romans has more on what the fiscal cliff bill does not have. ...
  • Centre responsible for West Bengal debts: Mamata December 27, 2012

    New Delhi: In a shrill attack on the Centre, Chief Minister Mamata Banerjee on December 27 accused it of an "unholy nexus" with the erstwhile Left Front government of West Bengal, leaving the state in a "disastrous" financial situation with a debt burden of Rs 2 lakh crore, and warned...
  • Kingfisher stock rises as it submits revival plan to DGCA December 25, 2012

    Mumbai: Shares of Kingfisher Airlines on Monday rose 5 per cent to touch the day's highest permissible limit after it submitted revival plan to aviation regulator DGCA in a bid to restart limited operations. Boosted by the reports of the revival plan, shares of the ailing...
  • Kingfisher Airlines looking for solution to end crisis: SBI December 16, 2012

    New Delhi: State Bank of India (SBI) on Saturday said there is no need for lenders to panic as the cash-strapped Kingfisher Airlines is looking for a solution to come out of the crisis. "Kingfisher has been a good airline at some point of time. They are going through their...
  • AP: Missing man's wife rescued from creditor's clutches December 11, 2012

    Guntur: A creditor detained his debtor's wife in his house, demanding clearance of his dues, in Macherla town of Guntur district on Monday, the police said. A drunkard called D Gopala Reddi had borrowed Rs 50,000 from S Lakshmanaih three years ago and then gone missing, after which his wife...
  • 'Not aware of any deadline set by Kingfisher lenders' November 10, 2012

    New Delhi: UB Group chief Vijay Mallya on Friday said he is not aware of any deadline given by bankers on recapitalisation of his airline Kingfisher, a comment that comes three days after SBI said the carrier will not fly again if it does not get capital "by month-end". "I...
  • Diageo to acquire 53.4 pc in Mallya's United Spirits November 9, 2012

    New Delhi: Vijay Mallya owned United Breweries on Friday signed a $2 billion deal with Diageo group and sold controlling stake of 53.4 per cent in United Spirits Limited (USL). Announcing the deal, Mallya said, "The cash infusion will help USL de-leverage itself. It is a win-win situation for both...
  • Kingfisher Airlines loss widens as revenue plummets November 8, 2012

    Mumbai: Concerns over the future of India's debt-ridden Kingfisher Airlines intensified on Thursday after the grounded carrier provided no concrete recovery plan even as a deadline to raise cash loomed large. Kingfisher, grounded for more than a month after a violent staff protest and concerns about safety, widened its quarterly...
  • Organiser defends proposed Greek F1 track November 5, 2012

    Athens: The man leading controversial plans to construct a potential Formula One racetrack in debt-stricken Greece has defended the bold project and says "my life's work" will benefit rather than burden the country. Last month, Greece's Ministry of Development confirmed it had unblocked a European funding subsidy of 29.46 million euros...
  • Govt helps Air India to pay off short-term debt October 10, 2012

    New Delhi: The government on Tuesday decided to guarantee Air India's non-convertible debentures (NCDs) worth Rs 7,400 crore, which will pave the way for the ailing carrier to pay off its short-term loans. "The Ministry of Finance has approved the unconditional and irrevocable guarantee for Air India NCD bonds today...
  • Gold hits 11-month high, extends gains to fifth day October 5, 2012

    Singapore: Gold hit an 11-month high on Friday in its fifth day of gains as stimulus measures from major central banks continued to increase its appeal as an inflation hedge, while investors awaited more trading direction from key US jobs data due later in the day. The European Central Bank...
  • 'Power bailout package will be performance-linked' September 25, 2012

    New Delhi: Put your house in order first - that's the message that Power Minister Veerappa Moily sent to the power companies on Tuesday when he said that the debt restructuring package announced by the government to bail them out would be performance-linked. "We want to ensure they don't go into...
  • Moody's threaten to cut US debt rating by a notch September 12, 2012

    New York: The US government's debt rating could be heading for the "fiscal cliff" along with the federal budget. Moody's Investors Service on Tuesday said it would likely cut its "Aaa" rating on US government debt, probably by one notch, if budget negotiations fail. If Congress and the White House don't...
  • US national debt crosses USD 16 trillion September 5, 2012

    Charlotte: The US national debt crossed all time high of USD 16 trillion on the day the Democratic Party kicked off its three-day convention, during which President Barack Obama would accept nomination to seek presidential reelection in November. Republicans immediately pounced on the new debt figure to push their candidate Mitt...
  • Bihar: Woman sells son to pay off Rs 15000 debt September 4, 2012

    Samastipur: Driven by poverty, a woman of Samastipur has sold her 18-month-old son to another woman to pay off a debt of Rs 15,000, police said on Tuesday. The impoverished woman Parvati of Chandchaur village allegedly sold off her son to Bini Devi on Monday in Devi's village Chiranjivipur in Begusarai...